CEO Elon Musk Says Tesla, SpaceX Does Not Stifle Competition: '...If There Was A Button I Could Press That Would Delete Blue Origin, I Wouldn't'
Portfolio Pulse from Anan Ashraf
Elon Musk, CEO of Tesla (NASDAQ:TSLA) and SpaceX, at the New York Times DealBook Summit, denied that his companies stifle competition. He highlighted that Tesla has made its patents open source and opened its supercharger network to rivals, while SpaceX does not use patents. Musk also expressed his support for competition in space travel, noting SpaceX's dominance with an 80% share of the world's payload to space. He also mentioned a positive view of Jeff Bezos' space efforts with Blue Origin.
November 30, 2023 | 11:40 am
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Elon Musk emphasized Tesla's commitment to open innovation and competition, which could reinforce investor confidence in the company's leadership and market position.
Musk's comments at the summit could be seen as a reaffirmation of Tesla's commitment to innovation and openness, potentially strengthening its brand image and investor trust. The emphasis on not stifling competition may also alleviate any regulatory concerns regarding monopolistic practices, which is generally positive for the stock in the short term.
CONFIDENCE 85
IMPORTANCE 70
RELEVANCE 80